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Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benchmark in terms of tracking freight rates, the BDI (Baltic Dry Index) to an almost 1-year low of just 1,013 points, effectively erasing the gains made during the final months of the previous year. The BDI lost an additional 3.8% yesterday with no ship type escaping the general downward trend. Capesizes were down by 2.44%, while Panamaxes led the losses, by retreating by 4.59%. Similarly, Supramaxes were also on the downside, by 2.27% compared to Friday's session.
In a note, Clarkson Research Services said that the freight rate for a Capesize vessel has fallen a total of 22% in just two weeks, the biggest fall since 2009, when the shipping industry was faced with a global recession. One-year time charters for capesize vessels slid to $17,000 a day in the two weeks ended Jan. 13, against $21,875 in the prior period, said Clarkson.
Commenting on the Capesize market, the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS) said that "Capesize rates saw heavy losses for the second week, with weather-related disruption in Brazil and Australia adding to the market’s problems. The Capesize 4TC finished the week at $9,116, which takes it back beneath the Panamax 4TC and the Supramax 6TC. Australia’s ports have slowly reopened, while Vale has downplayed the impact of its declaring force majeure on the grounds that it represents just 1% of its output. However the combination of these issues, and the forthcoming Chinese New Year, suggests there is little to prompt an upward correction in rates. Monday saw another slide, with the 4TC losing $618 to $8,498. In the paper market, February and March were trading at $9,433 and $10,267 by Friday afternoon" said BRS.
Meanwhile in the Panamax market, the shipbroker mentioned that "last week marked the beginning of a strong drop in Panamax rates. What everyone expected finally happened and we saw the indices freefall every single day with no positive sign for owners. The 4TC lost $2,000, going from $12,020 per day to $10,075/day. In 1Q 2012 the same number of Panamaxes delivered in 2Q+3Q+4Q 2011 will in theory be delivered according to our last updates. On top of that, a relatively warm winter across Europe has impacted negatively coal demand and stocks in China are still at a high level as we head into Chinese New Year.
In the Atlantic, the TA index dropped to $10,731 from $13,341 the previous week, while the market was already below $9,000/daily. The outlook is still bearish as ballasters from the east keep hammering the Atlantic market. The transatlantic rate is now equal to the 4TC, instead of being at a 10%-15% premium as in normal market conditions. In the Pacific, it was the same story. Rates dived from $8,895/daily to $7,398/daily with the 1year TC rate basis delivery North China at around $11,000/daily. The market was very calm there before the
Chinese New Year. On a positive note, coal prices are losing some ground and might push China to move to imported coal. However looking at stockpiles, the discount should be significant" said BRS.
Finally, on the Supramax/Handy front, the shipbroker said that "all countries were back to work for this second week of the year and the market continued its way down… The BSI lost 12.6% to close the week with an average of the TC routes at $10,154. Prompt positions were available in all areas. The strongest drop was noticed out of the US Gulf where the route USG/Skaw-Passero lost 21.6%; a 57,000 dwt vessel was fixed at $18,000 aps USG redelivery Italy, whereas redelivery Far East was done in the mid $20,000s. It was the same situation on the Continent where a Supra was fixed at about $13,000 for scrap from ARAG to the East Med, while same was done at $16,000 the previous week. In the Pacific, the volume of orders is reducing with the approach of the Chinese New Year. The market has become sluggish with stems of iron ore from India becoming increasingly rare. The dollar appreciation against the rupee has also led to fewer Indian coal Imports. Supras from Indonesia to India have now dropped $1,000 in the last week, to reach the low $6,000s, while Supras from India to China are now getting about $8,000" concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
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